Wall Street analysts predict that TPI Composites Inc (NASDAQ:TPIC) will announce $409.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for TPI Composites’ earnings, with the lowest sales estimate coming in at $385.80 million and the highest estimate coming in at $433.38 million. TPI Composites posted sales of $254.98 million during the same quarter last year, which suggests a positive year-over-year growth rate of 60.8%. The company is expected to issue its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that TPI Composites will report full-year sales of $1.46 billion for the current financial year, with estimates ranging from $1.43 billion to $1.50 billion. For the next financial year, analysts forecast that the company will post sales of $1.71 billion, with estimates ranging from $1.63 billion to $1.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover TPI Composites.
TPI Composites (NASDAQ:TPIC) last released its earnings results on Wednesday, August 7th. The industrial products company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.33. The company had revenue of $330.77 million for the quarter, compared to the consensus estimate of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. TPI Composites’s revenue was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) EPS.
TPIC has been the subject of a number of analyst reports. Craig Hallum dropped their price objective on shares of TPI Composites from $37.00 to $31.00 and set an “in-line” rating for the company in a report on Thursday, August 8th. JMP Securities dropped their price objective on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a report on Tuesday, September 10th. Canaccord Genuity dropped their price objective on shares of TPI Composites from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 9th. Zacks Investment Research lowered shares of TPI Composites from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Benchmark initiated coverage on shares of TPI Composites in a report on Friday, October 4th. They issued a “buy” rating and a $30.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.73.
NASDAQ:TPIC traded up $0.31 during trading hours on Friday, reaching $18.84. 12,269 shares of the company were exchanged, compared to its average volume of 487,949. TPI Composites has a twelve month low of $16.80 and a twelve month high of $32.74. The firm has a market cap of $651.33 million, a PE ratio of 236.13 and a beta of 1.72. The stock’s 50-day moving average is $18.34 and its 200-day moving average is $23.36. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 1.11.
In other news, President William E. Siwek acquired 2,823 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $17.73 per share, with a total value of $50,051.79. Following the completion of the acquisition, the president now owns 67,676 shares of the company’s stock, valued at approximately $1,199,895.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TPIC. TCI Wealth Advisors Inc. acquired a new stake in TPI Composites in the second quarter valued at approximately $25,000. Bank of Montreal Can purchased a new position in shares of TPI Composites during the second quarter worth approximately $59,000. Cubist Systematic Strategies LLC purchased a new position in shares of TPI Composites during the second quarter worth approximately $63,000. Tower Research Capital LLC TRC purchased a new position in shares of TPI Composites during the second quarter worth approximately $135,000. Finally, Macquarie Group Ltd. grew its position in shares of TPI Composites by 18.9% during the second quarter. Macquarie Group Ltd. now owns 8,786 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 1,397 shares during the last quarter. 87.06% of the stock is owned by institutional investors.
About TPI Composites
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
Further Reading: Strangles
Get a free copy of the Zacks research report on TPI Composites (TPIC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.